Excellence in Education Scholarship

Is this award a full ride? It says that it is worth a total of $77,760 for out of state students, which wouldn’t cover the full cost. I understand that the tuition is covered only insofar as the instate cost, leaving the rest of the out of state cost uncovered. Is this correct?
Also, is it guaranteed if the academic requirements are met?

My daughter graduated in May, and she has never heard of this scholarship at AU. Did you get this from AU itself?